Toronto Police have laid 82 charges against seven men — three of them serving Canadian Armed Forces members — over the July 25, 2026 kidnapping of a cryptocurrency exchange owner in north Toronto, the service announced Wednesday.

The victim, his employer, and the value of any assets the suspects allegedly sought remain undisclosed. Chief Superintendent Joe Matthews told reporters that "the victim was allegedly targeted because of his access to cryptocurrency assets." Police have presented no public ledger of losses, leaving the case as a study in alleged intent rather than confirmed proceeds.

What happened on July 25?

Police allege the suspects abducted the victim at gunpoint near Finch Avenue East and Bayview Avenue, an affluent commercial stretch in north Toronto. They handcuffed and assaulted him while trying to access his crypto holdings and the exchange's security systems, then released him after warning against contacting police.

The operation resembled several prior Canadian crypto kidnappings more than an opportunistic street crime, suggesting organized groups now study custodians of digital assets the way bank robbers once studied vault schedules. Police have not confirmed whether any ransom changed hands.

Who are the seven accused?

Officers took Saiefeddine Adem, 22, and Raheem Bishop-Jackson, 24, into custody on July 26, one day after the abduction. Investigators then took Talarambage Fernando, 22, James Moreau, 29, and Christian Darbandi, 39, into custody on August 11. Officers arrested Jack Miley, 24, and Suhaib Alekozai, 39, on September 24, roughly two months after the alleged abduction.

Police and the Department of National Defence have confirmed Fernando, Moreau, and Miley as Canadian Armed Forces members. Fernando and Moreau are reservists with the 7th Toronto Regiment and were removed from military duties after their arrests, the department said earlier this month. The 82-count slate averages nearly 12 counts per defendant and includes kidnapping for ransom and numerous firearms offenses. Three reservists now face courts alongside the civilians, an unusual configuration Canadian prosecutors have rarely assembled.

What did the searches find?

Searches of residences and vehicles produced a shotgun, two 9mm firearms built around 3D-printed receivers, two silencers, GPS tracking devices, handcuffs, and substantial quantities of methamphetamine and cocaine. Investigators also recovered more than 2,700 rounds of ammunition — roughly equivalent to the contents of 90 standard 30-round rifle magazines — about 2,500 of which the Canadian Armed Forces confirmed as stolen.

The arsenal level argues for planning rather than improvisation, though police have not alleged a buyer, a broker, or a directing mind. Matthews conceded investigators remain "still trying to determine how all of [the suspects] fit together in this puzzle," an admission that the public case file remains partial.

How does this fit Canada's pattern of crypto kidnappings?

The case extends a documented cluster of recent Canadian kidnappings linked to digital-asset access. In 2024, captors released WonderFi CEO Dean Skurka after a $720,000 ransom payment. In September 2025, a man who kidnapped a Toronto-area victim for a $1 million Bitcoin ransom received a 13-year prison term. A month later, one of the men who abducted self-styled "Crypto King" Aiden Pleterski in December 2022 pleaded guilty to nine charges, including kidnapping, assault, and firearms offenses.

Three dated cases across roughly four years yield a frequency that argues for industry-wide risk modeling rather than personal caution alone. Police Chief Myron Demkiw framed the broader principle bluntly: "Whether you are a member of the military or a member of a police service or a public official, no one is above the law."

Matthews added in the release that "criminals continue to adapt their methods and seek new opportunities for financial gain." Toronto Police say no further arrests are expected. Court appearances for the seven accused have not been scheduled publicly, leaving the industry's exposure window formally open until a judge rules otherwise.